Thomson Reuters provides information and software solutions that help professionals work more efficiently. The company builds its offerings on proprietary content deep domain expertise and artificial intelligence tools. Its solutions are sold mainly through subscription arrangements and are embedded in customer workflows to drive productivity and retention.
Revenue comes from recurring fees for access to products such as Westlaw Practical Law CoCounsel and tax compliance…
Thomson Reuters provides information and software solutions that help professionals work more efficiently. The company builds its offerings on proprietary content deep domain expertise and artificial intelligence tools. Its solutions are sold mainly through subscription arrangements and are embedded in customer workflows to drive productivity and retention.
Revenue comes from recurring fees for access to products such as Westlaw Practical Law CoCounsel and tax compliance platforms. Additional revenue is generated from transaction based fees for services like tax filings software licenses and consulting arrangements. The company also earns income from printed material sales through its Global Print segment.
The company operates through the following segments: Legal Professionals Corporates Tax Audit & Accounting Professionals Reuters and Global Print.
- Legal Professionals: This segment delivers AI enabled solutions for law firms courts and government agencies. It relies on the Westlaw database which contains over 1.9 billion documents enhanced by attorney editors and provides tools such as CoCounsel Legal for research and workflow automation.
- Corporates: This segment serves businesses ranging from small firms to multinational corporations. It offers the ONESOURCE+ platform that unifies tax trade legal and risk functions and provides AI driven compliance workflow software analytics and risk management tools.
- Tax Audit & Accounting Professionals: This segment supplies AI powered research and workflow solutions for tax audit and accounting professionals. It uses Checkpoint content and offers products such as CoCounsel for Tax and Audit Ready to Review and Ready to Advise to streamline compliance advisory and audit processes.
- Reuters: This segment provides news and media content and supports the Reuters newsroom with AI enabled tools for content creation and distribution. It serves media organizations and professionals seeking timely and reliable information.
- Global Print: This segment generates revenue from printed materials delivered in traditional paper format. It expects revenues to decline as customers shift to digital products.
Thomson Reuters holds a leading position in the legal tax and risk information markets where it competes with LexisNexis Wolters Kluwer and Bloomberg. Its competitive advantages stem from a vast proprietary content base deep subject matter expertise and the integration of AI with workflow software.
The company serves approximately 450,000 customers across law firms corporations government agencies and media organizations. No single customer accounts for more than five percent of total revenue. Its client base includes major law firms large accounting firms corporations and newsrooms worldwide.